FX NY outlook: USD looks to US data for impetus
First Published Thursday, 9 July 2009 from Need to Know News
The USD index is slightly higher than Wednesday's closing level in early NY dealings, though most dollar pairings remained rangebound overnight.
Soft UK retail sales data weighed on the pound, while EUR/USD sellers kept the 1.4000 level out of range.
USD/JPY price action remained sluggish, with investment-driven yen buying keeping the pairing's upside limited.
Thursday's US calendar reveals weekly jobless claims at 8:30 EDT, followed by the June Philly Fed survey at 10:00 EDT. At 13:30 EDT, Treasury secretary Geithner testifies to the House Financial Services Committee.
- Preview: DOE Inventories (w/e March 12th)
Crude inventories are expected to rise 1.3mln following a 1.432mln increase prior Unleaded inventories are expected to drop 1.0mln following a 2.959mln draw prior Distillate inventories are expected to drop 1.5mln following a 2.217mln drop prior Refinery Utilization is expected to rise 0.2% to 80.9%...continued
- Preview: February PPI
...continued
- BOE's Bean...best way to balance competing needs is by "retaining clarity of present remit"
BOE's Bean...best way to balance competing needs is by "retaining clarity of present remit"...continued
- BOE's Bean....'no regulatory regime is perfect'...
...continued
- BOE's Bean on inflation downward/upward pressures..saying MPC ready to react to risks if they arise..by resuming asset buying or tightening policy
...continued
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